I actually get the fact that good customers can hate their banks. I've hated past banks before. In fact, speaking as a customer, I'm not exactly a fan of the bank I work for. It just strikes me as funny when people complain about the abuse fees they pay.

I LOVE my credit union. I've been with them for exactly 7 years and, in all that time, I've only had two negative experiences. They have a great rates, good customer service, and every product I could possibly hope for.

If you are really struggling with finances right now, you might be better off closing the account. I did this years ago when I was making very little money. I'd cash my paycheck every 2 weeks and get money orders to pay rent and bills. What I paid in check cashing fees and postage to mail bills was still less than bank & potential overdraft fees.

See, this is the very reason I lurk most of the time instead of posting.

I used it as a freakin' example and both of you know that and know exactly what I meant.

Carry on.

Originally Posted by Peppy

I assumed that you wanted to get in a point that you believe that people who don't like the police don't like them because they break the law, and to relate that to people disliking banks. What else would I think you mean? Was I not supposed to comment at all on your example? Then why use it? How did that become you "taking the bait" when you brought it up? And now you want to play the martyr and claim Phoenix and I are the bad guys when I'm pretty sure YOU know we aren't unconditional supporters of the police?

If I wanted to be as petty as you are being, I could assume that you brought it up to try and revive old arguments from months or weeks ago and imply that anyone who doesn't unconditionally support the cops is a law-breaker. But I just took it as an example, that nonetheless was open for debate.

Get used to me. Black, confident, cocky; my name, not yours; my religion, not yours; my goals, my own; get used to me. -Muhammad Ali

What's a good bank customer? Somebody who uses the bank for all their financial needs. If you have a savings account, checking account and a car loan, you're gold. If you also have a credit card that you use, even better. I'm afraid the people who have a "free" checking account and that's it are not exactly the most profitable customers. Unless they routinely overdraft their account and keep paying the high fees, that is.

Seriously, it is all about making a profit. Banks charge $30 a pop because they can and because people will pay it.

If you are really struggling with finances right now, you might be better off closing the account. I did this years ago when I was making very little money. I'd cash my paycheck every 2 weeks and get money orders to pay rent and bills. What I paid in check cashing fees and postage to mail bills was still less than bank & potential overdraft fees.

Originally Posted by bunniee23

Another option is to keep the checking account for paying rent and monthly bills only, and pay cash for everything else. There are plenty of banks (e.g. WaMu) that have free checking accounts with free checks.

Bank fees are frustrating - its like being kicked when you are down. And in Canada, at least, all the banks seem to modify their fee schedules and raise their rates at the same time, so there is no point even shopping around for another bank. Its collusion.

We moved an hour away from my old bank branch, and I still bank there because they treat me well. I get all sorts of fees waived because I've been with them for so long (and they've made tons of money off us with our 2 mortgages, loans etc...). Its a PITA to get out there, and thank goodness for online and ATM banking, but I still make a point of getting out there every now and again just to show my face and say hello.

Another option is to keep the checking account for paying rent and monthly bills only, and pay cash for everything else. There are plenty of banks (e.g. WaMu) that have free checking accounts with free checks.

Originally Posted by mrspoppers

That's what we do. We keep a buffer, and only deposit money for bills and online purchase as we don't have a credit card. We've only had 2 problems which weren't our fault and were very quickly remedied by the bank.

I go back to Riley's point that banks are businesses. When you open an account, you're made aware of the fees associated with that account. If they update the terms and you don't like them, then close the account. Hating the bank is irrational.

God doesn't give special kids to special parents. He takes ordinary, imperfect people, and gifts them with his greatest treasures. And therein, he creates special parents.

I go back to Riley's point that banks are businesses. When you open an account, you're made aware of the fees associated with that account. If they update the terms and you don't like them, then close the account. Hating the bank is irrational.

Originally Posted by PhDCow

I agree. I hated my previous bank because they did what someone mentioned about holding deposits for days. They'd do this even if it was a cash deposit made at the teller window. I got fed up opened up my account with another bank and dropped them. Simple as that.

Luckily I am able to keep track of my purchases. Even if I couldn't, I can't see how you (GY) can bounce 2, 3, even 4 checks all at once. I mean if you know that you put in say 600.00. I would think you look at the amounts of your purchases and have a ball park figure of what you've spent.

Maybe itíll help if you
1- make a list of all automatic payments and when they come out of your account.

2-If you are bad with keeping receipts, Keep a notebook in your purse and write each and every purchase you make with your debt card or check.

3- Give yourself an allowance for your everyday splurges like coffee or smokes. It's easier than having to keep track of a lot of small purchases.

4- I know some folks live paycheck to paycheck. But, even a 20.00 cushion can help. Thatís what I have on mine.

5- Others have mentioned overdraft protection. I have mine linked to my savings. I donít plan on using it, but itís there for emergency purposes.

I know it doesn't help with the fees you have at the moment. But I'm just trying to help.

Location: Chicago

~~~~~~~~~~~~~~~~~~~~~~~~~~~

"If you don't stand for something you will fall for anything."
ó Malcolm X

I go back to Riley's point that banks are businesses. When you open an account, you're made aware of the fees associated with that account. If they update the terms and you don't like them, then close the account. Hating the bank is irrational.

Originally Posted by PhDCow

Exactly - you enter into the relationship knowing what the terms are. I can't fathom why people think they should get special treatment and the rules shouldn't apply to them just because 'oops I made a mistake'. Like I said, I get being annoyed about it, but I'd be even more annoyed with myself that I made it happen. I was the one in control of whether or not I was penalized, I was the one who effed up. It's just irrational to stomp around saying penalties are unfair and I HATE BANKS.

I accidentally paid my credit card bill a day late last month and they charged me $40. Yeah, it sucks, but I should have paid my bill on time. I knew what would happen if I didn't - I just forgot, so I paid my $40 and I'll pay it on time this month.

I haven't got the slightest idea how to change people, but I still keep a long list of prospective candidates just in case I should ever figure it out.

I think I'm perfectly entitled to hate both paypal and the bank that screwed me. Paypal made a mistake and I ended up paying for it because of the bank's manner of assessing overdrafts. Yes, I was familiar with the fee for overdrafts. No where was it explained that I would be charged for an overdraft that existed for less than a full minute, and that once the repeated fees for this 59-second overdraft put me into a real overdraft, I would be charged more and more. I also had to spend tons of my valuable time contacting paypal and the bank, and I had to go into the bank in person to close my account. At the time, the bank told me that if paypal initiated any transaction within the 2 weeks AFTER I closed my account, I would immediately go into overdraft again--even though my account was closed--and be charged fees again. How fair is that?

The end result is that I closed the account with the bank that, yes, I hate, and I pretty much refuse to use paypal.

I have absolutely no trouble managing my finances. I always know exactly where I am with my money and accounts. Why shouldn't I hate a business that penalizes me for something I didn't do in the first place?

And if it's all in the name of business, why do we have to bail banks out and why aren't they paying for their mistakes? I'd like to hit them with some service charges.

I have a love hate relationship with my bank (bank of america). I love the fact that since I travel a lot for work, I can pretty much find a branch or at the very least an ATM if I need to withdraw/depoist money. This is the ONLY reason that I continue to bank with them.

I HATE bank of america because of the shady stuff they do with my money. When I was in college, I was pertetually overdrawn...dispite having both of my parents depositing money into my account. I could never get that dayum account in the black. i would check the account, items would have cleared, and I would have $100. I would go to the store and gas station, spend $50, and the next day I would check my account and would be overdrawn! I finally figured out that they would go back into the system and changing the order that items were listed (even stuff that cleared) for no apparent reason! I finally got smart and started saving screen shots from my online bank sessions to prove that they were messing with the balances and the items that had previously cleared. My parents had to get an attorney (a family friend) to threaten the them before they finally admitted that something not quite right was going on with my account and refund all the overdraft fees for the previous six months...which ended up being almost $1000!

Even now, I hav't bounced a check in years (knock on wood) but I'm still leary about BOA and thier practices. just last year I got charged two NSF fees when my account had several hundred dollars in it. I called customer service and went off on the poor rep that took my call but I was PISSED. She couldn't even tell me WHY i had the charges, they just magicly appeared. I had to march down to the branch and threaten the manager, but they removed them finally(and gave me a gift card to starbucks for my inconvience). I check my balances religiously online (which is SUPPOSED to be real time), and I balance my account every 2 weeks (its easier to keep up with that way for me).

What I don't understand is why banks (BOA in my case) use the fuzzy math stuff to begin with. And from what i've read on the net, BOA has had several class action lawsuits about these same exact things, one of which is going on now and deals with being charged NSF fees when your account is not overdrawn.

I'm really looking to change banks and just keep a small "travel money" account with BOA that I don't use for everyday stuff. I've already switched my savings to ING years ago, and I've been thinking about switching to thier money market account, but the "no checks" policy doesn't work for me (i at least want the option to write a check for just in case stff). Worse case seniro, I'm putting my money under the mattress!

Extremely thick, kinky curls/coils that have a mind of thier own!!!!
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I think I'm perfectly entitled to hate both paypal and the bank that screwed me. Paypal made a mistake and I ended up paying for it because of the bank's manner of assessing overdrafts. Yes, I was familiar with the fee for overdrafts. No where was it explained that I would be charged for an overdraft that existed for less than a full minute, and that once the repeated fees for this 59-second overdraft put me into a real overdraft, I would be charged more and more. I also had to spend tons of my valuable time contacting paypal and the bank, and I had to go into the bank in person to close my account. At the time, the bank told me that if paypal initiated any transaction within the 2 weeks AFTER I closed my account, I would immediately go into overdraft again--even though my account was closed--and be charged fees again. How fair is that?

The end result is that I closed the account with the bank that, yes, I hate, and I pretty much refuse to use paypal.

I have absolutely no trouble managing my finances. I always know exactly where I am with my money and accounts. Why shouldn't I hate a business that penalizes me for something I didn't do in the first place?

And if it's all in the name of business, why do we have to bail banks out and why aren't they paying for their mistakes? I'd like to hit them with some service charges.

Originally Posted by Castella

Ding ding ding! You have every reason to hate a business that penalizes you for something you didn't do in the first place. It's the hating of an entire industry because said industry penalizes you for something you did do.

The kicker is that we all, as consumers, pay for the people who can't manage their finances (or choose not to manage them). I am personally very angry that I have to pay for the people that overdraft their accounts and don't make their loan payments. I'm angry for Myradella that she has to pay for the people that aren't making their credit card payments to Capital One (different thread). Every time somebody declares bankruptcy, we pay for it. I think if more people were outraged about the abuse that has occurred on both sides of the banking issue, we might not be in such a bad mess right now.

I think I'm perfectly entitled to hate both paypal and the bank that screwed me. Paypal made a mistake and I ended up paying for it because of the bank's manner of assessing overdrafts. Yes, I was familiar with the fee for overdrafts. No where was it explained that I would be charged for an overdraft that existed for less than a full minute, and that once the repeated fees for this 59-second overdraft put me into a real overdraft, I would be charged more and more. I also had to spend tons of my valuable time contacting paypal and the bank, and I had to go into the bank in person to close my account. At the time, the bank told me that if paypal initiated any transaction within the 2 weeks AFTER I closed my account, I would immediately go into overdraft again--even though my account was closed--and be charged fees again. How fair is that?

The end result is that I closed the account with the bank that, yes, I hate, and I pretty much refuse to use paypal.

I have absolutely no trouble managing my finances. I always know exactly where I am with my money and accounts. Why shouldn't I hate a business that penalizes me for something I didn't do in the first place?

And if it's all in the name of business, why do we have to bail banks out and why aren't they paying for their mistakes? I'd like to hit them with some service charges.

Originally Posted by Castella

Ding ding ding! You have every reason to hate a business that penalizes you for something you didn't do in the first place. It's the hating of an entire industry because said industry penalizes you for something you did do.

The kicker is that we all, as consumers, pay for the people who can't manage their finances (or choose not to manage them). I am personally very angry that I have to pay for the people that overdraft their accounts and don't make their loan payments. I'm angry for Myradella that she has to pay for the people that aren't making their credit card payments to Capital One (different thread). Every time somebody declares bankruptcy, we pay for it. I think if more people were outraged about the abuse that has occurred on both sides of the banking issue, we might not be in such a bad mess right now.